Banking



J. BAHKER.

BANKING.

APPLICATION FILED MAH.29.1919.

1,315,591. Patented'sept. 9, 1919.

7761- 5 #Tracy/Ey UNITED sTATEs PATENT oEEioE.

JAMES IBABKER, OF ANN A330281, MICHIGAN, ASSIGNOB T0 THE 'FORMAN BASSETTCOMPANY, A CORPORATION OF OHIO.

BANKING.

Specication of Letters Patent.

Patented Sept. 9, 1919.

Application led March 29, 1919. Serial No. 286,(116.

To .au whom e' may concern Be itknown that I, JAMES BAKKER, a citi# onthe partial payment plan by which a certain amount is to be paidperiodically and when so paid to be credited toward the purchase of thebond. Many banking institutions have organized and operate so calledChristmas clubs in which members agree to deposit throughout the year,or for a definite period, at regular intervals, a certain amount ofmoney which'is to be held by the banker until all the payments are madeor the obligation matures at which time the bank is to pay to thedepositor or club member a definite predetermined amount based on thepayments made by the member. While not limited in its use to either ofthese schemes of operation, my invention is especially directed towardthem.

To this end, my invention comprises, in the specific form in which Ihave eveloped it, a deposit book or a pass book. The book has the usual,or any desirable, cover and includes between the covers numerous sheets,some of which are able and some of w ich are perforated for detachmentlin sections. l

I may place upon the cover advertisin matter relatin to the particularbank whic is to receive ne deposits and some indication of the characterand type of the trans action .to be conducted together with such rulesand explanations as may be necessary or desirable.

One of the sheets of the book preferably consists of a bond or cashierscheck or other. arrangement to make the required payment to thepurchaser or to deliver the bond to the purchaser which is to be signedand become valid on the completion of the partial payments or at somespecified date. Pref erably the reverse side of this sheet containsspace for indorsement on payment and also space for registering the nameand address of the purchaser or club member in such a erforated anddetach-V position that such name `and address alone Will be visible Whenthe sheet is placed in a- Window envelop. The arrangement is preferablysuch that the cover may be folded back and the Whole book placed in anen velop so that the name and address will apper through the Window. Iprefer to make the book of a size suitable to be inclosed v Within astandard sized envelop but of course it may be made of any size andassociated with. a corresponding envelop. Preferably this sheet isperforated for ready detachment from the book after the other sheetshave served their purpose as hereinafter described. V

Another sheet in my book preferably consists of two portions and isperforated so that each portion may be separated from the other and fromthe rest of the book. One of lthese separable portions preferablyconsists of a standard signature card of the type commonly used by banksfor receiving and recording the signature and address of a depositor.The other ortion of this sheet preferably consists ofP a card or slip tobe delivered to the auditor or other suitable oiiicer of the bank toindicate that this particular account has been opened and payment inaccordance with the requirements of the book `may be expected. The bondsheet above described carries on it a serial number and the same serialnumber appears on theauditors slip and on the signature card as well ason each of the detachable coupons on the other sheets now about to bedescribed.

In order to conveniently provide for and accommodate the artial paymentscalled for by the scheme ofp my invention I rovide other sheets in mybook. These other sheets preferably consist of two kinds and arepreferably bound in alternately. One set of sheets consists of aplurality of coupons perforated for detachment from each other and fromthe book, each bearin the identifyinonumber of the account and seriallynumbered beginning with 1. I rovide one such coupon for each of thepartial payments contemplated by the particular scheme to which theparticular embodiment of my invention is adapted. Preferably each cou onalso carries on it some date or other indication of the time when thepartial payment represented by the coupon should be made as contemplatedby the particular scheme in which the book banking contemplated by is tobe used. Each sheet is made u ofa number of such coupons and is preerably succeeded by an imperforate sheet bearingV mas club partialpayment scheme calling for weekly payments of one dollar resulting in areturn by the bank of fifty dollars to the depositor or club member butmy claims are not to be so limited.

I have shown one form of my book in the accompanying drawings in whichFigure 1 s is a perspective view of the bookwith some of the leavesexposed to view. Fi 2 is a perspective view of the book folde so as toexpose the reverse side of the bond sheet showing in dotted lines theinclosing envelop and the window therein. Fig. 3 is a plan view of thebook opened to show the bond sheet and one sheet of detachable coupons,some of which have been detached to show the lreceipt sheet below. Fig.4. is a plan .view of the book opened to the sheet containing thesignature card and the auditors coupon.

My book may have a cover A inclosing the various ages. I have not shownthe cover in detail but it will be understood that ii'may carry theusual printed matter in y'the name of the bank issuing the book as wellas space for the name of the depositor or purchaser and rules relatingto the particular scheme with which the book is to be used and any otherdesired matter.

Preferably the first sheet B in the book is the bond sheet, the face ofwhich is shown in Fig. 3 and. the reverse of which is shown in Fig. 2.'The relative position of this and the other sheets in the book is notessential and the arrangement I haveshown is merely for purposes ofillustration. As shown the bond is for ii'fty dollars but it might befor any other amount or call for a Government bond or anything elseAdepending on the scheme of operation or the'partial payments.

` The last sheet `C in the book I prefer to provide with the addresscard D and'the auditors coupon E as. illustrated in Fig. 4. Theintermediate sheets are made up of two kinds. The sheets F being thecoupon sheets as illustrated in detail in the lower right hand part ofFig. 3. Alternating with these sheets are the receipt lsheets Gr shownin detail in the upper right hand part of Fig. 3. These sheets are shownas used in a scheme calling for the payment of one dollar each week butwith suitable obvious changes they might be adapted to any other schemecall ing for any other payments at the same or suitable other intervalsor times.

In practice these books will be kept in the bank in regular order untilthey are to be used. When a personv wishes to become a member of thesavings. club, a book is presented to him. From the drawings it will benoted that the bond, the signature card, the auditors coupon and thedetachable coupons all carry the same number, 127 5. It is to be assumedthat there have already been opened 1274 accounts. When the 127 5thcustomer approaches, he will be asked to place his signature and addresson the signature card D and it will be detached at the perforationsindicated in Fig. 3 and retained for filing. At the same time the tellerwill stamp and detach the auditors coupon E which will be handed eitherimmediately or at the end of the days business or periodically to theauditor or some other official of the bank to indicate that the accountrepresented by the serial number 1275 has been opened. Some cashierslike to have this information at hand where the bank does not havebusiness enough to keep their regular auditor. The teller will thenremove the detachable coupon numbered 1 on the sheet F. It will be notedthat in Fig. 3 the coupons numbered 1, 2 and 3 have already beenremoved. This coupon will be retained by the receiving teller in lieu ofa deposit slip and subsequently handed to the bookkeeper or properofficial for record or entry. At the same time the teller may stamp onthe receipt sheet Gr the date and his number in the space near the No. 1on the sheet. The teller may then Write the name and address -of thepurchaser on the reverse side of the bond sheet B as indicated in Fig.2. It will be noted that the lines for this name and address are soplaced on the reverse side of the sheet B that when the name and addressis put upon them and the cover folded back the-book may be placed in awindow envelop H so that the name will show through the window Iindicated by dotted lines in Fi 2. Subsequent payments will be han ed inconnection with my book by the teller lifting the coupons as paid landputtin his receipt stamp on the receipt sheet adjacent the numbercorresponding to the coupon lifted. -In Fig. 3 I have illustrated thecondition after two such receipts have been indicated and while paymentofcoupon 3 is being made. Coupon 3 has been lifted or detachedpreparatory to placing the\tellers receipt stamp on sheet Gcorresponding to coupon 3. For convenience of handling and readydistinction I have made the receiptvsheets G narrower than the couponsheets. F so that they d0 not extend to the extreme margin of the book.

In order that the purchaser or member of such a club may keepup theartial payments, some incentive is desirab e and I have provided this byputting in each book so that it will face the receipt sheets and thecoupon next due the bond representing the amount the bank will pay tothe purchaser or club member at maturity so that the purchaser mayconstantly have before him., the total suml he will receive oncompletion of his contract for the partial payments. This bond formingone o the leaves of the book is also an additional convenience for theban'k.- It bears the same serial number as the coupons and the otherparts of the book and on payment of the last partial payment due underthe scheme the cashier or other oiiicer or the bank may detach this bondon the perioration shown. After verifying from the bank record that thepayments have been completed the bond may be signed by the cashier orother oiiicial ot' the bank and placed in a window envelop and mailed orotherwise delivered to the purchaser and act as a draft or cashierscheck on the bank for the amount due at maturity.

I claim as my invention:

l. A deposit book for use in partial payment plans comprising a sheetcarrying a de tachable portion adapted to receive the signature andaddress ol the depositor and a detachable portion Jfor the auditor, asheet containing a statement of the value of the total of the partialpayments to be signedby a bank oiiicial when the partial payments areall made, alternate intermediate sheets con taining a plurality oldetachable coupons bearing a date, amount and serial number, alternateintermediate sheets bearing serial numbers and adapted to receive marksshowing receipts et' partial payments corresponding to the coupons, anda similar identifying number on each of the separable parts of the book.i

2. A deposit book for use in partial payment plans comprisin a sheetcarrying a detachable portion adgitpted to receive the signature andaddress of the depositor, a sheet containing a statement of the value ofthe total of the artial ayments to be signed by a bank o'gicial w en thepartial payments are all made, alternate sheets containing a pluralityof detachable coupons bearing a date, amount and serial number,alternate sheets bearing serial numbers and adapted to receive marksshowing receipts of partial payments, and a similar identitying numberon each of the separable parts of the book.

3. A deposit book for use in partial payment plans comprising a sheetcarrying a portion adapted to receive the signature and address of thedepositor and a portion for the auditor, a sheet containing a statementof the value of the total of the partial payments to be signed by a bankofficial when the partial payments are all made, sheets showing amountsand due datesof the partial payments, sheets adapted to receive marksshowing receipts of partial payments, and a similar identifying numberon each of the sheets.

4. A deposit book for use in partial payment plans comprising a sheetcarrying a portion adapted to receive the signature and address of thedepositor and a portion for the auditor, sheets showing amounts and duedates of the partial payments, sheets adapted to receive marks showingreceipts of partial payments, and a similar identitying number on eachof the sheets.

JAMES Banana.

